According to disclosures from the WeChat public account of the Yunnan Provincial People's Procuratorate, recently the Shidian County Procuratorate has prosecuted Li and 10 others for organizing and leading a pyramid scheme. After court hearings, the 10 defendants, including Li, were sentenced to imprisonment ranging from six years to two years for the crime of organizing and leading a pyramid scheme, and were fined between 500,000 and 100,000 RMB. It is reported that Li gathered Huang and Jin and others, using 'blockchain' and 'virtual currency' as a gimmick, to set up five capital pools on an online platform under the pretext of purchasing and holding virtual digital currency A and issuing virtual digital currencies B and C. They deceived the public into obtaining membership qualifications through methods such as purchasing, destroying, and adding funds to the pools, forming five rebate levels. According to assessments, the pyramid scheme funds collected by Li and others through the online platform totaled over 210 million RMB.
